Max Keiser Predicts Gloomy Future for XRP, Compares Its Holders to a Crow Failing to Devour a Worm

Max Keiser, a financial journalist and the host of RT's Keiser Report, has once again disparaged the Ripple-promoted token XRP

Financial journalist and RT’s Keiser Report host Max Keiser has again thrown shade at the Ripple-promoted token XRP, saying that investors pinning hopes on a fabled parabolic rally will be left waiting in vain.

Of late, Keiser has also joined El Salvador’s Bitcoin office and serves as an adviser to the Latin American nation’s President Nayib Bukele. El Salvador made Bitcoin a legal tender in 2021 and has been ramping up its BTC holdings ever since.

Keiser on XRP’s potentially bleak future

Max Keiser shared a short video on X (fka Twitter) where a crow is seen attempting to eat a worm. The crow opens its mouth but fails to snatch the worm.

“XRP holders waiting for the rally that is NEVER GOING TO HAPPEN,” wrote Keiser alongside the clip.

XRP holders waiting for the rally that is NEVER GOING TO HAPPEN.

pic.twitter.com/Ja23aREFZM

An avowed Bitcoin maximalist, Keiser often takes potshots at altcoins like XRP, Ether (ETH), Solana (SOL), and Cardano’s ADA, calling them “centralized garbage” that will eventually crash to zero. He has also said in the past that he agrees with the Securities and Exchange Commission on most altcoins being unregistered securities.

Earlier this year, the BTC proponent claimed that XRP was created by Ripple “to steal billions from fools,” adding that the seventh-largest cryptocurrency will continue “trending to zero against Bitcoin.”

XRP seen continuing downtrend amid Ripple’s latest legal setback

XRP is down by over 14% so far in October, with losses largely driven by renewed regulatory uncertainty following the U.S. Securities and Exchange Commission (SEC) filing a fresh appeal in the long-running Ripple case.

On Oct. 2, the securities watchdog filed a notice of appeal to the Second Circuit Court of Appeals, a move that comes less than two months after Judge Analisa Torres gave her final judgment in the now four-year-old suit against Ripple.

The SEC’s appeal could create significant headwinds for XRP’s price, especially if the Wall Street regulator successfully argues that the token’s programmatic sales on crypto exchanges to retail investors constituted securities. Being classified as a security is generally seen as a bearish development in the crypto space, as securities are more heavily regulated than commodities.

Furthermore, the appeal is seen as derailing hopes for a spot XRP exchange-traded fund (ETF) despite the first application for one recently hitting the SEC’s desk. As reported by ZyCrypto earlier, the odds of this ETF filing being approved are now seen as close to zero, especially if Democratic presidential nominee Kamala Harris wins the White House.